Making prices lower may be just as important as inventing a new product
I liked this article by Matt Ridley in the WSJ about the innovation of reducing prices. We often think of entrepreneurship as inventing something new; there are also those that find ways to make what exists but with a new twist that brings the price down and brings the item/service to the masses.
Excerpts:
A feature of innovation is that the greatest impact of a new idea comes not when the light bulb goes on over the geek's ...
Read More